Expect rupee to stay in 64-64.30 range, says Mohan Shenoi

We expect the 10-year benchmark bond yield to trade in a range of 6.58-6.62 percent for the day, says Mohan Shenoi of Kotak Mahindra Bank.

Mohan Shenoi of Kotak Mahindra Bank said, "Risk-on is back with geopolitical risks receding resulting in modest gain for dollar across major currencies. In the absence of any major triggers, the rupee is expected to stay in a tight range with trading range for the day at 64-64.30."

He further added, "Higher CPI print for August coupled with higher crude prices and rising bond yields globally has turned Indian bond market bearish. Continuing OMO sales and higher supply of state development loans are also adding to bearishness."

"We expect the 10-year benchmark bond yield to trade in a range of 6.58-6.62 percent for the day," he said.